7:36pm: Pettitte has informed the team that he intends to pitch next season, reports Bryan Hoch. The two sides hope to have a deal done within 48 hours.
8:45am: According to Buster Olney, Andy Pettitte is close to formally announcing his return in 2013. He says the two sides are close to a new contract, which Joel Sherman says will be worth $10-11M. No surprise there.
Pettitte, 40, has reportedly started his offseason workout routine to test his body in advance of a decision. That was an indication a) his family gave him to thumbs up to return in 2013, and b) he actually wanted to play again. I don’t think he would have started his routine if his heart wasn’t into it. Nothing is final yet, but it appear to be only a matter of time before Pettitte is officially back in pinstripes.